Vneshtorgbank buys a stake in EADS

Russian state bank Vneshtorgbank has acquired a 5-percent stake in European aerospace and defense giant EADS.

EADS is one of the biggest flagship companies in Europe and the news helped the company improve its share price in the stock market.

EADS is behind the making of some of the world’s most popular passenger jets including the A380 and they are very keen to expand in the Russian market.

They are currently competing with US based Boeing to renew the ageing fleet of Russian national carrier Aeroflot.

They are also currently recovering from a management crisis, which hammered its shares in the summer as they announced delays in the launch of A380.